>>Trading Week Winding Down

(New York, NY) -- The trading week is winding down after stocks closed sharply lower Thursday. At the closing bell, the Dow Jones Industrial Average fell by 330 points to 38-111. The S&P 500 dropped by 31 points to 52-35. The Nasdaq lost 183 points to 16-737.

>>Trump Social Media Stock Prices Tumble Following Verdict

(Undated) -- Donald Trump's social-media company's stock prices are tumbling following him being found guilty on all counts in his hush money case. The share price for Trump Media & Technology Corporation, which is the operator of Trump's Truth Social platform, dropped almost 15-percent following yesterday's verdict. Following after-hours trading, it was still down about ten percent. Trump will almost certainly appeal his conviction. The appeal process could take months or longer, likely delaying any punishment doled out by the judge in the case past Election Day.

>>Boeing Details Improvement Plan

(Washington, DC) -- Boeing is telling the FAA how it plans to improve operations following a string of mechanical problems that started with a door plug blowing out of a plane over Portland, Oregon. The FAA put Boeing on a 90-day clock to develop the plan. The company is reducing work that's done out of order and they've increased monitoring of Spirit AeroSystems that does some of their outside work. The FAA has added inspectors at both Boeing and Spirit AeroSystems.

>>Retailers Cutting Prices To Lure Shoppers

(New York, NY) -- Major retailers like Walmart, Target, Amazon and Walgreens are cutting prices with some being permanent and some temporary. The Consumer Conference Board reported a third straight month declines, as Americans worry about their financial wellbeing, near and long-term. Companies are now slashing prices on thousands of household goods to help boost consumer spending. Shoppers have been pulling back for months now as costs have risen 20-to-30 percent from what they were three years ago. Retailers are trying to get customers back to their stores, as shoppers are focusing more on bargains.

>>ChatGPT Projects Much Different Price Target For Nvidia Stock

(San Francisco, CA) -- Artificial intelligence is taking on Wall Street stock analysts. This week, analysts predicted shares of chip maker Nvidia would rise four percent in 12 months with a consensus price target of eleven-hundred-and-71 dollars per share. The artificial intelligence chatbot ChatGPT was asked to make its prognostication about the stock and returned a much different estimate. The large language model projected Nvidia would be trading above 14-hundred 60 dollars per share within a year, nearly 300 dollars per share more than its human counterparts had suggested.

>>IRS Free Filing Program To Be Available Nationwide Next Year

(Washington, DC) -- The IRS's free tax filing program will be available nationwide in 2025. The agency is expanding its free program Direct File, the Treasury Department announced. More than 140-thousand users filed using the program in the 2024 season, saving an estimated five-point-six-million-dollars in tax preparation fees. It was available to a limited number taxpayers in 12 states this year.

>>Amazon To Include Grubhub+ Subscriptions

(Seattle, WA) -- Amazon Prime customers are getting Grubhub-Plus subscriptions. The Amazon membership will now include a free subscription to the food delivery service, the companies announced this week. Prime previously offered a one-year membership to Grubhub-Plus in July 2022 before extending the offer for another year. Now it'll be permanently included. Grubhub-plus includes zero delivery fees on orders over 12-dollars along with reduced service fees and a five-percent credit back on pickup orders.

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed sharply higher on Wednesday.  At the closing bell, the Dow Jones Industrial Average lost 411 points to 38-441.  The S&P 500 fell by 39 points to 52-66.  The Nasdaq dropped by 99 points to 16-920.  Coming up today, we'll get word on weekly jobless claims and pending home sales.  

>>Four Arrested In Euro Botnet Sting

(Berlin)  --  Four people have been arrested in what European authorities are calling "the largest ever operation against botnets."  Europol says over 100 internet servers that were being used to install malware were either taken down or disrupted in the international operation carried out this week.  A spokesperson for Germany's federal police says the arrests were made in Armenia and Ukraine, and that one of the main suspects earned over 74-million dollars in cryptocurrency by renting out criminal infrastructure sites to deploy ransomware.  

>>Nissan Issues Do Not Drive Warning In Older Cars Over Airbag Inflator Explosion Risk

(Washington, DC)  --  Nissan is warning owners of older model cars to not drive them over a risk of exploding air bag inflators.  The National Highway Transportation Safety Administration said Wednesday that nearly 84-thousand vehicles that have "recalled, unrepaired Takata airbags" are affected.  The warning is for some 2002 through 2004 Pathfinder SUVs, 2002 through 2006 Sentra small cars, and 2002 and 2003 Infiniti QX4 SUVs. Nissan says it will replace the inflators for free. 

>>2.2 Million Americans Over 55 Still Have Student Loans

(Undated)  --  Millions of older Americans are still struggling with student loan debt.  A new survey from the Federal Reserve Board found two-point-two-million Americans over 55 have student loan debt they're still trying to pay off.  Roughly half of the borrowers in that age range are in middle-income brackets, and on average they still owe about 58-thousand-dollars.  

>>Boeing Will Try To Launch Astronauts Again

(Cape Canaveral, FL)  --  After a failed attempt weeks ago, Boeing is preparing to launch NASA astronauts into space this weekend.  On Saturday, NASA, Boeing and United Launch Alliance are hoping to successfully send the Starliner spacecraft to the International Space Station with astronauts on board for the first time.  

>>Stellantis Plans To Offer $25,000 Jeep EV "Very Soon"

(New York, NY)  --  A 25-thousand-dollar all-electric Jeep vehicle will be available in the U.S. "very soon."  That's according to the Stellantis CEO Carlos Tavares, who discussed the automaker's plans at a Bernstein investor conference Wednesday.  Stellantis currently offers a low-cost electric SUV model for about 25-thousand-200-dollars in Europe.  The Jeep Wagoneer S SUV is expected to be the company's first all-electric vehicle offered in the U.S. later this year.  It will be officially unveiled on Thursday in New York.

>>ConocoPhillips To Buy Marathon Oil

(Anchorage, AK)  --  ConocoPhillips is making an all-stock deal to buy Marathon Oil.  The company will pay just over 17-billion dollars for Marathon, but the deal is believed to be valued closer to 22-point-five-billion dollars.  It was announced Wednesday afternoon. 

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after the holiday-shortened trading week got off to a mixed start.  At the closing bell, the Dow Jones Industrial Average fell 216 points to 38-852.  The S&P 500 rose a point to 53-06 while the tech-heavy Nasdaq finished above 17-thousand for the first time ever, gaining 99 points to end at 17-019.  Coming up ahead today, we'll see the release of the Fed Beige Book which offers a basic summary of economic conditions around the country.  That includes things like the state of inflation.  In addition, both New York Fed President John Williams and Atlanta Fed President Raphael Bostic are scheduled to speak at events today. 

>>OpenAI Establishes New Safety Committee

(San Francisco, CA)  --  OpenAI says it's addressing safety and security issues. The artificial intelligence company says the new safety committee's first goal will be to "evaluate and further develop" its safeguards over the next 90 days. Then it will give its recommendation to the board. The company made the announcement as it continues to push further in AI development. 

>>American Airlines Slashes Sales Outlook

(Dallas, TX)  --  American Airlines is lowering its sales expectations.  The company slashed its sales outlook on Tuesday, and now expects the revenue per available seats to fall as much as six percent in the second quarter, which is a drop of nearly three percent from its previous outlook.  The company is also letting go of its chief commercial officer, who will leave his position next month.

>>High-Paying Remote Work Jobs Fading Fast

(New York, NY)  --  The number of high-paying remote work jobs is shrinking.  A new study by the job-seeking website Ladder showed that well-paying remote jobs has fallen nearly 60-percent, and hybrid availability dropped 95-percent over the past year.  Now, higher-paying jobs appear to require more commitment from their employees -- that involves showing up in-person to the office.  A survey by Resume Builder also found that 90-percent of companies out of the one-thousand surveyed said they expect a full five-days-in-office expected to return by the end of this year.

>>Electric Vehicles Sales Often Hinge On Political Affiliation

(New York, NY)  --  A Wall Street Journal poll finds about four-in-ten American adults have an unfavorable view of electric vehicles.  Of those who are opposed to EVs, 38-percent said their political views were a factor.  Conservatives dislike regulatory attempts to steer consumers toward EVs and also take issue with the public subsidies being offered to support their sales.  While liberals are in favor of public investment in green energy.   Tesla - the world's top-selling EV company - has seen some Democrats move away from the brand, as it's Chief, Elon Musk has expressed conservative views on various social topics.

>>Connecticut Gov. Signs Paid Sick Day Expansion

(New Haven, CT)  --  Connecticut's Democratic Governor Ned Lamont has signed into law a bill expanding the paid sick day program.  The new law will require nearly all Connecticut employers to provide sick time to employees, and will be phased in over three years.  The original paid sick time law required companies with at least 50 employees to offer up to 40 hours of paid sick leave each year.  Republicans in the legislature opposed the measure, saying it will add a new expense for the state's businesses.
 

>>Holiday-Shortened Trading Week Kicks Off 

(New York, NY)  --  The opening bell rings this morning to kick off what will be an abbreviated trading week with markets having been closed yesterday in observance of Memorial Day.  When trading wrapped up Friday, things were in the green capping a volatile week.  At the closing bell, the Dow Jones Industrial Average gained four points to 39-069.  The S&P 500 rose 36 points to 53-04.  The Nasdaq climbed 184 points to 16-920.  

>>Musk's AI Firm Raises More Money

(San Francisco, CA)  --  Elon Musk has raised another six-billion-dollars in funding for his artificial intelligence company xAI, putting its valuation at 24-billion.  New money came in from Silicon Valley venture capitalists and a Saudi prince.  Musk said Monday that there would be more to announce in the coming weeks.  The company says the money will be used to take products to market and increase the pace of research and development.

>>NCAA Signs Deal That Could Mean Collegiate Athlete Payments

(Undated)  --  A new deal between the NCAA and the country's five biggest conferences could pave the way to student athletes being paid.  Late last week the NCAA announced a tentative agreement to a series of antitrust lawsuits, which could direct millions of dollars to collegiate athletes as soon as the Fall of 2025.  NCAA President Charlie Baker said the payments are "an important step in the continuing reform of college sports that will provide benefits to student-athletes and provide clarity in college athletics for years to come."

>>Alcatraz Ferry Workers Strike

(San Francisco, CA)  --  Alcatraz ferry workers are trying to get the word out about their demand for better pay.  Nearly 100 ferry workers went on a four-hour strike over the weekend to push Alcatraz City Cruisers to come to the bargaining table.  The strike comes as tourist season is starting to heat up in San Francisco, with tourist officials saying Alcatraz Island attracts more than one-million tourists to San Francisco every year.

>>"Furiosa" Barely Beats "The Garfield Movie" At Box Office

(Los Angeles, CA)  --  "Furiosa: A Mad Max Saga" is victorious over "The Garfield Movie" at the Memorial Day weekend box office.  The fifth film in the "Mad Max" franchise made 32-million-dollars over the four day weekend.  "Garfield" took second with just over 31-million-dollars made in its debut.  This marks the worst Memorial Day weekend at the box office in almost three decades, excluding 2020 when theaters were closed due to COVID.  
 

>>House Passes Bill Preventing Federal Reserve From Issuing Digital Currency

(Washington, DC)  --  The House is passing legislation barring the Federal Reserve from issuing digital currency. The measure passed almost completely along partisan lines, with Republicans voting in favor. The move is symbolic as of now, since the Fed hasn't announced any plans to issue a digital dollar and has said it wouldn't move forward without Congressional approval. But Republicans, including former President Trump, have discussed worries about potential government misuse of a digital currency.

>>DOJ Sues Live Nation

(Washington, DC)  --  The U.S. government is suing Live Nation, the parent company of Ticketmaster.  The Department of Justice filed an antitrust lawsuit Thursday, looking to break up the company.  Attorney General Merrick Garland said the government alleges Live Nation "relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry."  Live Nation and Ticketmaster came under fire in 2022 after a botched on sale for tickets to Taylor Swift's Eras Tour, leading to a Senate hearing.  The company called the allegations "absurd" and claimed the lawsuit "ignores everything that is actually responsible for higher ticket prices."

>>Moody Wants Investigation Into Starbucks Hiring Process

(Tallahassee, FL)  --  The state of Florida is accusing Starbucks of racial discrimination.  Attorney General Ashley Moody filed a complaint against the coffee chain yesterday, calling for an investigation into the company's hiring practices.  She claims one of Starbucks' training exercises tried to convince white employees that they were "the problem."  The complaint also states that the company's policies say it has an employee quota system with compensation tied to it.  Moody is asking the Florida Commission of Human Relations to look into whether Starbucks should be considered an abusive work environment. 

>>Reservations For New All-Electric Jeep Begin This Month

(Detroit, MI)  --  Customers looking to order Jeep's first all-electric vehicle can make a reservation beginning May 31st. The new Wagoneer S is expected to be available in the fall ahead of the all-electric Jeep Recon SUV.  The Wagoneer S will feature an estimated range of 300 miles on a charge and have 600 horsepower.  Jeep is comparing its performance to the discontinued Jeep Grand Cherokee Trackhawk which was powered by a supercharged gasoline powered Hemi engine producing over 700 horsepower. Pricing for the Wagoneer S has not been announced. 

>>Bark Air Launches Airline For Dogs

(New York, NY)  --  Bark Air is launching the first-ever airline catered to dogs.  Started by pet company Bark, the airline aims to "revolutionize flying for dogs" and launches Thursday. A domestic flight costs about six-thousand-dollars a ticket, and international tickets cost about eight-thousand each. Flights for May and almost all of June are sold out. The company will offer "white paw service" with earmuffs and treats for its pups. 
 

>>Nvidia, Target Report Earnings

(Undated) -- Nvidia stock is booming after the chipmaker reported earnings Wednesday that beat expectations. Shares topped one-thousand dollars as the stock rose seven-percent in extended trading. The company also announced a ten-for-one stock split, which should make it easier for individual investors to buy shares. Nvidia's earnings report indicates a continued strong demand for the company's AI chips. Retail giant Target also reported first quarter earnings, which came up short of market expectations. The report came just days after Target announced it would be slashing prices on more than 15-hundred items in an attempt to lure back shoppers who are wary of inflation

>>DOJ To Sue Live Nation

(Washington, DC) -- The Justice Department is planning to sue Live Nation over what it says are anti-competitive business practices. The entertainment company puts on concerts, sells tickets and owns venues. The lawsuit is expected to accuse the company of edging out competitors and driving up prices. Several state attorneys general are reportedly joining the suit, which could be filed as soon as today.

>>Nearly Half Of Homeowners Have At Least One Regret

(Washington, DC) -- Nearly half of current homeowners have at least one regret about purchasing their current home. According to a new survey from Bankrate, 47 percent of American homeowners cite maintenance and other hidden costs that are more expensive than expected. Many homeowners also come to realize their home is either too small or too big or in a bad location. A common worry is about the mortgage payment and whether they can handle it if the family's financial situation takes a turn for the worse.

>>Ford Tells Dealers To Halt EV Investments While Plan Is Reviewed

(Dearborn, MI) -- The policy by Ford Motor Company requiring dealers to meet certain guidelines for electric vehicle sales is on hold. The automaker is now reviewing their previous requirements for dealers to qualify for their Model E Certification program. Ford modified the requirements in November but has now recommended dealers stop any investments related to the program while they review information gathered from over one-thousand dealers. Ford has delayed a 12-billion dollar investment in EVs and expects their Model E business division to lose five-point-five billion dollars this year.

>>Fed Governor Says Further Rate Increases 'Probably Unnecessary'

(Washington, DC)  --  Federal Reserve Governor Christopher Waller says further interest rate increases are probably unlikely.  Speaking Tuesday, Waller said another hike was "probably unnecessary," citing data that shows inflation is not rising.  While he added that central bankers should "never say never," he said the data looked promising.  When it comes to interest rate decreases, however, Waller went on to say that he'd need to see "several more months" of positive numbers.

>>Group Sues Southwest Airlines Over Program For Hispanic Students

(Dallas, TX)  --  A group is suing Southwest Airlines over a program that awards free flights to Hispanic undergrad and grad students.  The American Alliance for Equal Rights claims the program violates civil rights laws by discriminating against non-Hispanic students.  The group's founder, anti-affirmative action activist Edward Blum, says all students should be eligible for the program, no matter their skin color or ethnic heritage.  The program was launched two decades ago and is run in partnership with the Hispanic Association of Colleges and Universities.  Southwest says it's helped 15-hundred students. 

>>SAG-AFTRA Supports Johansson In OpenAI Voice Controversy 

(Los Angeles, CA)  --  The SAG-AFTRA guild is applauding Scarlett Johansson for calling out OpenAI for using a voice "eerily similar" to hers in its new model. A spokesperson for the labor union that represents thousands of Hollywood actors said in a statement that they "share in her concerns and fully support her right to have clarity and transparency regarding the voice used in developing the Chat GPT-4o appliance 'Sky.'" Johansson voiced an AI chatbot in the 2013 movie "Her," and said she was "shocked, angered and in disbelief" that OpenAI CEO Sam Altman would use a voice so close to hers that even her friends and news outlets could not tell the difference. She said Altman contacted her in September, asking to hire her to voice the system, which she declined.

>>Nestle Launching Vital Pursuit For Weight Loss

(Undated)  --  Nestle is coming out with a new food line aimed at people who use weight management drugs like Ozempic and Wegovy.  Called Vital Pursuit, the company says it's designed to offer a balanced diet for people looking for weight-friendly meals.  The foods will feature high-protein meals and frozen options like pasta, sandwich melts and pizza.  It'll be on sale in the U.S. early next year.

>>Pixar Lays Off 175

(Emeryville, CA)  --  Pixar is being hit with layoffs, impacting over ten-percent of its workforce.  The animation studio laid off 175 employees, with employees bracing for layoffs since the beginning of the year.  Pixar has struggled since the pandemic due to poor box office performances of films including "Lightyear" and "Onward."
 

>>Tesla Investors Argue Against CEO Pay Package

(Austin, TX)  --  A group of Tesla investors is urging Tesla shareholders to vote against CEO Elon Musk's 56-billion-dollar pay package.  The group issued an open letter Monday criticizing the package as against Tesla's interests, arguing the company's board has failed to reign in Musk, including his fights with regulators and controversial public statements.  That, they say, has led to a decline in the electric automaker's reputation and has had a negative affect on the bottom line.  Signers of the letter include New York City Comptroller Brad Lander, a Danish pension fund and others.  The vote is scheduled for next month. 

>>Senate Investigation: Major Automakers Bought Parts Made With Forced Chinese Labor

(Washington, DC)  --  A Senate panel finds several major automakers bought parts made with forced labor in China.  An investigation by the Senate Finance Committee claims BMW, Jaguar Land Rover and Volkswagen purchased parts flagged by the U.S. government in connection to forced labor camps. Those camps are in an area of China home to the Uighur [[ wee-gr ]] minority group of Muslims. The probe also found that BMW and Jaguar Land Rover continued importing the parts as recently as last month, despite knowing of the forced labor.

>>Red Lobster Files For Bankruptcy

(Orlando, FL)  --  Red Lobster is filing for bankruptcy.  The casual dining giant filed for voluntary Chapter 11 bankruptcy, but plans to remain open even as it closes locations across the U.S.  The popular chain had previously announced plans to close 99 locations as it deals with its financial problems.  Red Lobster was founded in 1968 and had grown to nearly 700 nationwide locations as of 2019, but has seen a significant dip since the pandemic.

>>Panera Bread Subject Of Another Lawsuit 

(Monroeville, PA)  --  A new lawsuit claims a Pennsylvania teen had to be resuscitated in March when he went into cardiac arrest after drinking Panera Bread's Charged Lemonade.  The suit comes just two weeks after the restaurant announced it would discontinue the drink.  It's at least the fourth lawsuit filed against Panera over the beverage, which has been blamed for two deaths and one woman's permanent health issues.  Panera denies any wrongdoing. 

>>Nvidia, Target To Announce Earnings This Week

(Undated  --  A major earnings report is due to be announced this Wednesday.  Valued at two-point-three trillion dollars, Nvidia is the third largest stock on the S&P 500.  The chip maker is large enough to cause the markets to move significantly with its report.  Another big name due to report this week is Target.  The retail giant has been trying to bring back shoppers who are wary of inflation.  That led to an announcement Monday that prices would be slashed on more than 15-hundred items.  

>>Real Estate Seen As Best Long-Term Investment

(Washington, DC)  --  Americans still say real estate is the best long-term investment as of 2024. A new Gallup survey shows it's the 12th year in a row that respondents ranked real estate as the top long-term investment at 36-percent of those asked saying so, although the number has gone down compared to a few years ago. Stocks and gold follow real estate in the survey. 
 

>>Airlines File Lawsuit Against Biden Administration

(Washington, DC)  --  Airlines are suing the Biden administration over a new rule requiring upfront disclosure of airline fees.  American Airlines, Delta Air Lines, United Airlines and others have filed a lawsuit against the Department of Transportation over rules requiring airlines and ticket agents to disclose service fees alongside the airfare.  The airlines argue they already disclose all fees associated with air travel and the new rules would greatly confuse consumers.  The rules are part of the Biden administration's push to eliminate junk fees.  

>>NY Fed Survey Shows Inflation Outlook Increased In April

(New York, NY)  --  Many Americans don't expect inflation to come down anytime soon.  A survey by the New York Federal Reserve shows a rise in consumer expectations for both short and long term price increases.  Higher prices for homes, fuel and energy were cited as key factors for the uptick in April's inflation outlook.  The survey results come just ahead of Wednesday's release of the closely watched consumer price index.

>>NHTSA Investigates Zoox Robotaxis After Crash

(Foster City, CA)  --  The National Highway Traffic Safety Administration is investigating Robotaxis operated by Zoox.  The probe comes after two motorcycles slammed into the rear-end of one of the company's autonomous Toyota Highlanders.  The Amazon-backed start-up operates about 500 vehicles in Las Vegas, Nevada, and near its headquarters in Foster City, California.  

>>OpenAI Launches New AI Model And Desktop ChatGPT

(San Francisco, CA)  --  OpenAI is launching a new AI model of ChatGPT. The company's technology chief said at a livestreamed event that the update brings GPT-4 to everyone, including OpenAI's free users. The new model, GPT-4o is reportedly "much faster," with better text, video and audio capabilities. It also improved ChatGPT's speed and quality for 50 different languages.

>>Melinda French Gates Steps Away From Bill And Melinda Gates Foundation

(New York, NY)  --  Melinda Gates is resigning as co-chair of the Bill and Melinda Gates Foundation. Gates said she would receive an additional 12-and-a-half billion dollars for her charitable work as part of her separation agreement from her ex-husband and Microsoft co-founder.  The pair divorced in 2021, after 27 years of marriage.  She posted that she's "immensely proud" of the foundation.
 

>>Apple Apologies For Ad Showing Musical Instruments Crushed By Hydraulic Press

(Cupertino, CA)  --  Apple is apologizing for its new iPad ad after a lot of blowback from artists.  The company says the ad was meant to show how much the iPad can do, despite being so thin and small.  It showed a record player, a piano, a camera, a drawing board, and other tools used by artists getting crushed by a hydraulic press and turning into the shape of the iPad Pro.  An Apple marketing executive told Ad Age  "We missed the mark with this video, and we're sorry." 

>>Consumer Sentiment Drops On Inflation Concerns

(Ann Arbor, MI)  --  Consumer sentiment hit its lowest level in six months.  The University of Michigan's early reading for May fell 13 percent thanks largely to a jump in inflation expectations.  The survey's chief economist called the drop in sentiment "statistically significant."  The survey noted consumers expressed fears that inflation, unemployment and interest rates may all be moving in an unfavoravle direction in the year ahead. 

>>Report: McDonald's Working To Roll Out $5 Value Meal

(Chicago, IL)  --  McDonald's is reportedly working on a new five-dollar value meal as consumers pull back on fast-food spending.  According to CNBC, the proposed meal could feature a McChicken or McDouble, four-piece chicken nuggets, fries and a drink.  The move comes after company CEO Chris Kempczinski recently said McDonald's has to be "laser-focused" on affordability to attract diners.  

>>Some Apple Store Workers Vote To Authorize Strike

(Towson, MD)  --  Union officials say Apple Store workers in Towson, Maryland are "overwhelmingly in favor" of authorizing a strike.  The announcement was made on Saturday by the International Association of Machinists and Aerospace Workers, who represents the workers at the Towson Town Center store.  Workers at the store are seeking improvements in wages and scheduling, as well as other concerns.  The vote allows the union members who are negotiating with Apple to schedule a strike if a resolution isn't reached through talks and negotiations.

>>Nearly Half Of Master's Degrees Have Negative ROI

(Undated)  --  A new study is finding that a master's degree might not be a worthwhile investment.  New analysis by the Foundation for Research on Equal Opportunity says that over 40-percent of master's degrees aren't financially worth getting.  The study looks at career earnings at graduation and a decade later, while adjusting for factors such as drop-out rate.  The study found that over 75-percent of four-year bachelor degrees have a positive ROI.

>>NLRB Claims Tesla Keeping Buffalo Employees Out Of Union

(Buffalo, NY)  --  The National Labor Relations Board is accusing Tesla of preventing its Buffalo, New York employees from forming a union.  A complaint filed by the NLRB this week claims a Tesla workplace policy was designed to "discourage its employees from forming, joining, or assisting the Union."  This is not the first time the NLRB has claimed Tesla and CEO Elon Musk tried to keep employees from unionizing.  A court ordered Musk to delete a 2018 Twitter post discouraging workers from joining a union.  Musk has since bought Twitter, changed its name to X, and returned the post on his account.

>>Target Reportedly Cutting LGBTQ-Related Merchandise From Some Stores During Pride Month

(Minneapolis, MN)  --  Retailer Target says it's "committed" to supporting the LGBTQ community during Pride Month, but will reportedly remove LGBTQ-related products from some of its stores.  Bloomberg News is reporting that Target will carry such merchandise in only around half of its two-thousand or so U.S. stores.  The report says Target will make all of its LGBTQ-themed merchandise available online.  Last year during Pride Month, Target experienced clashes between customers and employees products such as transgender swimsuits.  The month of June is recognized as Pride Month.

>>OpenAI Reportedly Developing Search Tool

(San Francisco, CA)  --  Artificial intelligence company OpenAI is reportedly planning a search product to compete with Google.  The announcement could come Monday, according to reports.  The Microsoft-backed company's search would be an extension of its ChatGPT program that can pull information from the internet.  The company has previously had issues with giving customers accurate real-time information from the web.

>>Disney and Warner Bros. Discovery To Offer Bundle 

(Burbank, CA)  --  Two streaming rivals are teaming up.  Disney and Warner Brothers Discovery announced Wednesday that they'll joining forces to offer a bundle of Disney-plus, Hulu and Max. It's not yet known how much the package will be but it's expected to be available this summer. This comes as both companies along with Fox Corp., revealed a sports streaming service set to debut in the fall. 

>>Hyundai Elantras Top List Of Most Frequently Stolen Cars

(Washington, DC)  --  Hyundai Elantras are at the top of the list of most often stolen cars. According to the National Insurance Crime Bureau, full-size pickup trucks used to top the list. But as of 2023, Elantras had more than 48-thousand thefts reported across the nation. Hyundai and Kia combined make up six of the 10 most frequently stolen vehicles. Thefts of those have surged since 2020 by as much as a thousand percent. That's around the time that videos of how to steal the cars spread on TikTok.

>>Former Treasury Secretary Steven Mnuchin: Still Interested In Buying TikTok

(New York, NY)  --  Steven Mnuchin says he's still interested in buying TikTok. The former Treasury Secretary under Donald Trump told Bloomberg Television he's spoken to several tech companies about how to rebuild the app.  President Biden recently signed a law requiring the Chinese company ByteDance to sell TikTok or have the app banned in the U.S. Mnuchin said if he were to purchase the social media platform, it would be to "rebuild the technology under U.S. leadership. "

>>Biden Announces $3.3B For Microsoft AI Facility In WI 

(Racine, WI)  --  President Biden, campaigning in the battleground state of Wisconsin Wednesday, highlighted what he portrayed as his role in jump-starting a three-point-three billion dollar investment by Microsoft to build a new artificial intelligence data center in Racine.  The project is expected to create more than four-thousand jobs.  The data center will be built on the same land where electronics manufacturer Foxconn had planned to build a ten-billion dollar factory during the Trump administration, which ultimately never materialized.  Biden took a shot at the former president over the failure, claiming that "Foxconn turned out to be just that: A con."  

>> FTX: Most Creditors Can Be Paid Back In Full

(New York, NY)  --  FTX says it has enough to pay most of its creditors back in full after its collapse. The failed cryptocurrency exchange said in a statement that its plan would resolve disputes with private and governmental stakeholders "without costly and protracted litigation." The Sam Bankman-Fried led exchange collapsed in 2022, leaving the CEO to later be found guilty of fraud and conspiracy, and sentenced to 25 years in prison. FTX said it recovered assets associated with the crypto exchange at the time of its collapse, estimated between 14-point-five and 16-point-three billion dollars.

>>GM Ends Production Of Malibu Sedan Later This Year

(Detroit, MI)  --  General Motors will end production of the Chevrolet Malibu sedan in November.  The vehicle is built at the company's Fairfax Assembly Plant in Kansas City, Kansas along with the Cadillac XT4 compact SUV.  The automaker will move production of the Chevrolet Bolt to the plant and will continue to make the XT4 on the same assembly line.  The current Malibu is the ninth generation of the model since it was brought back in 1997 and GM has sold ten-million Malibu's globally. 

>>U.S. Offers $10M Reward For Russian Ransomware Hacker

(Washington, DC)  --  U.S. officials are offering a ten-million-dollar reward for a Russian hacker who ran the world's largest ransomware scheme.  The Department of State said this week that a manhunt is underway for 31-year-old Dmitry Khoroshev, whose whereabouts are unknown.  A federal indictment says Khoroshev was the leader of a mercenary ransomware group called Lockbit, that tried to extort millions from major targets including Boeing and the British Royal Mail.  The indictment says Khoroshev developed ransomware that allowed criminals to steal a victim's data and hold it under threat of publishing if the victim didn't pay.

>>Warner Brothers Discovery Making Job Cuts

(New York, NY)  --  Warner Brothers Discovery is looking to make job cuts.  According to Bloomberg, WBD is considering cutting its budgets on streaming by hundreds of millions of dollars.  The company owns a number of media properties including CNN, Max, and TNT. 

>>More Millionaires In NYC Than Anywhere Else On Earth   

(New York, NY)  --  New York is home to more millionaires than any other city in the world.  A global ranking from Henley & Partners finds 350-thousand New Yorkers have a net worth of one million dollars or more.  That's up 48-percent from a similar report done in 2013.  Northern California's Bay Area came in second.  Los Angeles was the only other U.S. city to make the top ten, coming in 6th.
 

>>More Earnings Reports Due

(Undated)  --  Disney's highly anticipated second-quarter earnings report beat analyst estimates on Tuesday.  And yet stock prices sank, sliding around ten percent after it missed revenue estimates for the fourth consecutive quarter and the entertainment company issued guidance about what it believes will be a softer third quarter.  Meanwhile, noteworthy earnings coming up ahead today include Airbnb and Uber.

>>TikTok Sues U.S. Government Over Possible Ban

(Washington, DC)  --  TikTok is suing the U.S. government over efforts to have the popular app banned in the country.  The lawsuit was filed Tuesday in the U.S. Court of Appeals for the DC Circuit by the social media app and its parent company ByteDance.  It argues the Protecting Americans from Foreign Adversary Controlled Applications Act violates the First Amendment.  The bill aims to force ByteDance to sell TikTok or have it banned in the U.S.  In the lawsuit, TikTok said, "For the first time in history, Congress has enacted a law that subjects a single, named speech platform to a permanent, nationwide ban."

>>Poll: Confidence In Biden And Economy Lowest Since George W. Bush

(Washington, DC)  --  When it comes to the economy, Americans don't have much confidence in anybody, President Biden in particular.  A Gallup poll shows that only 38-percent of U.S. adults have "a great deal" or "a fair amount" of confidence in Biden to make the right decisions about the economy.  The poll also measured confidence in former President Trump, Federal Reserve Chair Jerome Powell, and Democratic and Republican leaders in Congress.  Trump had the most support at 46-percent, while Powell and both parties in Congress were all under 40-percent.  Biden's rating on the economy is the lowest since the final year of George W. Bush's second term when only 34-percent had confidence in his handling of the economy.

>>Apple Announces New iPad Models

(Cupertino, CA)  --  Apple is coming out with a new iPad Pro and iPad Air tablets.  CEO Tim Cook said it's "the biggest day for iPad since its introduction." Apple calls the iPad Pro its thinnest ever, at just over five-millimeters thick, and it has new M4 chip, which it calls "outrageously powerful" for A-I.  The smaller version Pro starts at thousand-bucks, the larger, at 13-hundred. The iPad Air has a less powerful M2 chip, with the larger version starting at 800-bucks, the smaller at 600.

>>Coming Up Today  

(Undated)  --  Coming up today, we'll get a look at the latest data on consumer credit.  All eyes will also be on earnings results from the likes of Walt Disney, Reddit, Lyft and Virgin Galactic.  Earnings from Airbnb and Uber follow on Wednesday.  Weekly jobless are due Thursday with most analysts expecting a slight uptick in the number of first-time requests for unemployment benefits.  The week winds up with preliminary data on consumer sentiment.

>>FAA Opens New Probe Into Boeing 787 Jets

(Washington, DC)  --  The FAA is opening a new probe into Boeing's 787 Dreamliner jets.  The agency said Boeing informed it last month that employees may not have completed required inspections on the planes.  The investigation will look to determine if the inspections happened "and whether company employees may have falsified aircraft records."  Boeing will conduct inspections on 787 jets that are still in the production process while also coming up with a plan for planes already in service.  Boeing has faced increasing scrutiny for a number of incidents involving its planes this year.

>>Company Fined For Child Labor

(Somerville, TN)  --  A Tennessee-based cleaning company will pay almost 650-thousand-dollars in penalties after employing at least two dozen children at slaughtering and meat-packing facilities.  The Labor Department announced the deal Monday with Fayette Janitorial Service.  An investigation earlier this year found that the children, some as young as 13, were put on overnight sanitation shifts at meat plants in Iowa and Virginia.  

>>American Food Brands Lose Market Share

(New York, NY)  --  Some of America's best-known food brands are losing market share as consumers use their wallets to rebel against rising food costs.  Fast-food prices in March were 33-percent higher than 2019 levels, according to the Labor Department, while grocery prices were up 26-percent.  The pushback from consumers is prompting some food companies to shift their strategies.  McDonald's and Starbucks plan to launch more promotions, while snack company Mondelez said it would offer pricing specials and smaller package size.  Food manufacturer Kellanova said they're promoting large pack sizes at the beginning of the month, when consumers have the most cash on hand, and smaller ones toward the end of the month.  U.S. fast-food traffic declined three-point-five percent in the first quarter of this year compared with the same period last year.

>>American University To Offer Economics Course Centered On Taylor Swift

(Washington, DC)  --  A new American University course aims to put a new spin on the impact of music superstar Taylor Swift.  A one-credit class called "Swiftonomics" will be offered this fall after a contest to create a new student-designed course.  The class will examine Swift's career through concepts such as supply and demand, market power and gender-based economics.  It will look at her music releases, her recent "Eras" tour and her success as a woman in a male-dominated industry.  The course has already generated enough interest to raise interest in offering it again in future semesters.
 

>>Burgerville Coporate

(Vancouver, WA) -- A popular Pacific Northwest burger chain is making changes in its head office, ahead of a planned expansion. Former Dutch Bros CEO Joth Ricci will join Burgerville as Executive Chairman, as a group of local investors takes an ownership stake. The Mears family, which founded Burgerville, remain as shareholders. Burgerville’s 40th location is expected to open in Wilsonville later this year … and there are plans to open as many as 10 more over the next year. In February, the chain announced it’s looking at Bend for its first restaurant east of the Cascades.

>>A Look Ahead At The Week In Business

(Undated) -- Coming up in the business week ahead, we'll get the latest look at consumer credit to get things rolling on Tuesday. The same day brings earnings results from the likes of Walt Disney, Reddit, Lyft and Virgin Galactic. Earnings from Airbnb and Uber follow on Wednesday. Weekly jobless are due Thursday with most analysts expecting a slight uptick in the number of first-time requests for unemployment benefits. The week winds up with preliminary data on consumer sentiment.

>>Boeing Starliner Test Flight Scheduled

(Cape Canaveral, FL) -- Boeing is set to launch its first ever Starliner astronaut mission for NASA. The highly-anticipated test flight for the commercial space capsule could happen before the end of the day from Cape Canaveral on a week-long mission to the International Space Station. The Starliner is designed to take crews to and from the ISS.

>>Tesla Accused Of 100+ Air Pollution Violations

(Fremont, CA) -- Air quality managers in the San Francisco Bay Area are sounding the alarm about Tesla's impact on the region. The local air district accuses the electric vehicle maker's Fremont, California plant of potentially emitting thousands of tons of illegal pollutants in recent years. After more than 100 notices of violations since 2019, the air district is handing the matter to its enforcement arm, its hearing board to issue an abatement order. The Fremont plant's paint shop is the target of the abatement order. It has been the source of many of the violations. The air district is asking the hearing board to compel the company to take action.

>>"The Fall Guy" Looks To Claim Top Spot At The Box Office

(Los Angeles, CA) -- It looks like "The Fall Guy" is landing at the top of the weekend box office. The film made ten-point-four-million dollars opening day, which includes just over three-million dollars from preview screenings. The love-triangle tennis drama "Challengers" will come in second after earning over two-million dollars on Friday. And in honor of Star Wars Day, Disney's 25th anniversary re-release of "Star Wars: Episode One -- The Phantom Menace" will take third.

>>Airbnb Introduces "Icons" Category

(San Francisco, CA) -- Airbnb has a new category. The online vacation rental company introduced "Icons" last week. Folks have a chance to stay in places themed after movies, television shows and more. Some notable places include a house in New Mexico which resembles the one in Disney/Pixar's "Up," a New York mansion based off Marvel's "X-Men '97," and a Ferrari Museum in Italy. Users can request a stay via the Airbnb app, and will be chosen by a lottery.

>>IRS Planning More Audits

(Washington, DC) -- The IRS is planning to increase audits on large corporations and wealthy individuals. The agency has nearly 80-billion-dollars in new funding from the 2022 Inflation Reduction Act. Some of that money will be used to crank up the number of audits on corporations with assets of more than 250-million-dollars as well as people with income of more than 10-million-dollars. The agency says there will be no increase in audits for people earning less than 400-thousand-dollars a year.

>>Inflation Squeezing Lower-Income Consumers The Most

(New York, NY) -- The long-predicted consumer pull back is finally here with many brands reporting a decrease in same store sales. McDonald's said it has adopted a "street-fighting mentality" to compete for value-minded diners. Starbucks announced a surprise drop in same-store sales, while Pizza Hut and KFC also reported shrinking same-store sales. For months, economists have been predicting that consumers would cut back on their spending in response to higher prices and interest rates, but it's taken a while to see sales actually shrink. Prices to eat out are up five-percent in March compared to a year-ago, while prices for groceries have increased more slowly, according to the Bureau of Labor Statistics.

>>Southwest Required To Offer Travel Vouchers For Cancellations, Delays

(Dallas, TX) -- Southwest Airlines will be required to offer 75-dollar travel vouchers for certain cancellations and delays. This comes after the company suffered what some call a "holiday meltdown" in 2022. The U.S. Transportation Department announced this week the airline will need to give compensation as part of a deal reached after the incident that "stranded millions of passengers across the country." Flyers can get a Southwest LUV voucher if their flight is cancelled or delayed within a week of departure or if they arrive three or more hours later than planned. However, they are not eligible for the voucher if the flight is affected by factors out of the airline's control, like weather.

>>Ford Sales Drop In April

(Dearborn, MI) -- Sales at Ford Motor Company dropped in April overall but hybrid sales set a monthly record. The automaker sold over 179-thousand cars and trucks with sales of the popular F-Series trucks. Broncos and SUV's falling off. Ford says they remain committed to hybrid vehicles and plans to have an entire lineup by the end of the decade. Sales of EV were up by 129-percent over last year but still are not meeting expectations. SUV sales declined by nearly ten-percent in April and Ford said they will be increasing incentives for customers.

>>Peloton's CEO Steps Down As Company Lays Off Staff

(New York, NY) -- Peloton's CEO is stepping down as the company cuts 400 jobs worldwide. The exercise bike giant went through a boom during the pandemic when people were stuck at home, but sales have dropped dramatically since then. It also plans to close retail showrooms and overhaul its international sales plan. A news release says the move is expected to cut annual expenses by more than 200-million by the end of 2025.

>>Fed Holds Interest Rates Steady

(Washington, DC)  --  The Federal Reserve is leaving interest rates unchanged.  Wednesday's announcement came as officials have repeatedly said they want to be more confident inflation is coming down before cutting rates.  The central bank's goal is to get inflation down to two-percent. 

>>Tesla Fires Entire Electric Vehicle Charging Team

(New York, NY)  --  Tesla is firing its entire electric vehicle charging team. Employees confirmed the layoffs in social media posts.  The news raises concerns about the future of one of the largest charging networks in the United States.  Tesla's "Supercharger" network has been a key selling point for its electric vehicles, as a lack of charging ports has been a large barrier to widespread EV adoption.

>>Viking Cruises IPO Is Biggest So Far In '24

(New York, NY)  --  Viking Cruises has the biggest initial public offering of the year so far.  The cruise operator debuted on the New York Stock Exchange Wednesday and raised around one-point-five-billion dollars.  Viking's offering price of 24-dollars per share puts the market value at around ten-point-three billion.  Viking offers luxury cruises around the world aimed at wealthy older Americans.  

>>UMG Makes Licensing Deal With TikTok

(Los Angeles, CA)  --  Universal Music Group has made a new licensing agreement with TikTok.  The two companies have been feuding for months over royalties paid to UMG artists on the video platform.  The dispute led UMG to pull the music of Drake, Taylor Swift, Lady Gaga and other artists from TikTok.  On Wednesday, the companies announced a new licensing agreement that would bring an end to the dispute.  Under the new agreement, UMG says its global family of artists, songwriters and labels will return to TikTok.

>>Justice Department Charges "Bitcoin Jesus" With Criminal Tax Fraud

(Washington, DC)  --  The Justice Department is charging the man known as "Bitcoin Jesus" with criminal tax fraud.  Bitcoin investor Roger Ver gained the nickname when he got in early on the digital currency. He allegedly evaded at least 48-million in taxes, according to the indictment. It claims Ver failed to report a portion of the 131-thousand bitcoin he owned in 2014 when he renounced his U.S. citizen after moving to the Caribbean nation of St. Kitts and Nevis.  At the time, that was over 114-million dollars.  Now, it's worth more than seven-and-a-half billion.

>>Ford Recalls Over 240-Thousand Maverick Trucks

(Dearborn, MI)  --  Ford is recalling over 240-thousand Maverick pickup trucks over tail lights that fail to light up.  That's according to the National Highway Traffic Safety Administration.  The recall impacts certain Maverick models that span from 2022 to this year.  The vehicle's Body Control Module may 'inadvertently deactivate one or both rear tail lights."  It does not impact headlights, turn signal or stop lamps.

>>Dave And Buster's To Allow Customers To Place Bets On Games

(New York, NY)  --  Dave and Buster's will allow customers to bet on arcade games.  Adults 18 or older who are loyalty members of the arcade will be able to place a five-dollar wagers on a Hot Shots basketball game, Skee-Ball competition or other arcade games.  The new technology from the gamification software company Lucra should be available in the coming months.  This comes as there's a been a major boom in sports betting across the U.S. 

>>Hotel Workers To Rally Today

(Undated)  --  Thousands of hotel workers are planning May Day rallies in at least 18 cities across the U.S. and Canada, looking for better pay and working conditions.  The unionized workers are in talks with Marriott International, Hilton Worldwide and Hyatt Hotels for new contracts for the first time since the COVID-19 pandemic.  According to union leaders, hotel staffing is down since 2019 while revenue is up to record levels.  Rallies are planned for cities including Boston, Baltimore, Miami, San Francisco and Toronto.  The rallies fall on May Day, a traditional celebration of the working class.

>>Walmart Closes All Healthcare Centers, Stops Virtual Health Services

(New York, NY)  --  Walmart is closing all 51 of its healthcare centers and stopping virtual healthcare services. After making a large push into healthcare in recent years, the company is shutting locations down in Arkansas, Florida, Georgia, Illinois, Missouri and Texas. The largest retailer in the U.S. seems to be taking a major turn in strategy that could leave a gap in healthcare access, particularly among lower-income patients without insurance.

>>Americans Worried About Losing Job

(Undated)  --  A quarter of American workers are worried that they may lose their job in the coming year.  A survey by OnePoll found that they're worried about the job market and the stability of their industry.  Others are also worried about falling behind or lacking the skills needed for what they consider success.  

>>Home Prices Soar Despite High Mortgage Rates

(Washington, DC)  --  Home prices are hitting record levels despite high mortgages rates.  According to the S&P CoreLogic Case-Shiller National Home Price Index, prices jumped more than six percent on a year-over-year basis in February.  That's the third straight month of gains for the 20-city composite index.  Prices in San Diego saw the biggest gain, up more than eleven percent from one year ago.  Chicago and Detroit round out the top three cities with annual increases of almost nine percent.

>>Philips Reaches $1.1 Billion Settlement

(Andover, MA)  --  Philips Healthcare is agreeing to a one-point-one-billion-dollar settlement following lawsuits and recalls over its CPAP sleep apnea machines.  The FDA said it had received more than 100-thousand reports on problems with the insulating foam in the devices, including more than 500 reports of death.  Philips and its Philips Respironics brand announced the settlement this week while denying any fault or liability.  The affected devices were sold between 2008 and 2021, according to Philips' summary of the settlement.

>>WeWork Accepts Bankruptcy Deal, Rejects Adam Neumann's Offer

(New York, NY)  --  WeWork is moving ahead with a bankruptcy deal and rejecting a 650-million-dollar buyback offer from the company's co-founder.  The office space company announced on Monday that it reached a 450-million-dollar settlement with its junior creditors and rejected a bid from former owner Adam Neumann.  WeWork says it's new restructuring plan would pay off the company's four-billion-dollar debt load by the end of May, and would hand the company's equity to its senior lenders.  WeWork was once valued at 47-billion dollars and filed for bankruptcy last November after many office employees started working remotely.